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02:50 Nov 3, 2008
English to French translations [PRO] Bus/Financial - Investment / Securities / stock plan
English term or phrase:tandem cancellation
Repricing Prohibited. Neither the Committee nor the Company shall “reprice” outstanding Stock Options for any reason. For purposes of the Plan, a “repricing” means lowering the exercise price per share of an outstanding Stock Option or any other action that has the same effect or is treated as a repricing under generally accepted accounting principles and includes, without limitation, a tandem cancellation of a Stock Option at a time when its exercise price per share exceeds the fair market value of the underlying Common Stock and exchange for another option or other equity security (unless such cancellation and exchange occurs in connection with a merger, acquisition, spin-off or other similar corporate transaction.
Extrait du site de l'assemblée nationale : Il existe plus précisément deux types de SARs : les stand alone SARs, qui fonctionnent selon les modalités qui viennent d'être indiquées, et les tandem SARs, qui sont associées avec des stock options, avec possibilité d'arbitrage pour l'employé entre l'option et le paiement direct de l'appréciation de la valeur de l'action